Effects of the U.S. economy on emerging market economies in globalization process: The case of Turkey

The aim of this study is to analyse the effects of globalization process, which significantly increase its influence on world economy in last century, within the context of the U.S. and developing countries. In our study, changing world in the globalization process, and pluses and minuses of this phenomenon are discussed in the wide time horizon, from the beginning of the globalization process to today's world.The main development experienced in the globalization process is, of course, changing centre and periphery relations and unipolar world structure. The relations of the U.S., which is the major actor of the new world structure, with other countries and the imbalances caused by these relations are two of the research subjects of this study.Emerging market economies which is one of the most popular investigation topics of the globalization and global imbalances processes are also included in our study. Turkey?s position and importance among the emerging market economies are discussed particularly. Historical evidences are brought into sharp relief that emerging market economies has obtained important gains in the globalization process. Frequency of the economic slow-downs and recessions, and desperation of the emerging market economies against globalization, however, are interpreted in related chapter.Results of this study confirm that world economy made great progress to achieve the single market dream which is one of the main assumptions of globalization movement. But the evidences also point out that globalization process generated heterogeneous results and drawbacks for developed, in the first instance the U.S., and developing economies.Keywords: Globalization, Global Imbalances, The United States Of America, Emerging Market Economies